Note 4 - Contracts in Progress

12 Months Ended

Nov. 30, 2022

Notes to Financial Statements

Long-Term Contracts or Programs Disclosure [Text Block]

(4) Contracts in Progress

Amounts included in the consolidated financial statements related to uncompleted contracts are as follows:

	Cost and Profit in			Billings in Excess of
	Excess of Billings			Costs and Profit
November 30, 2022
Costs	$	848,516		$	731,490
Estimated earnings		293,094			138,568
		1,141,610			870,058
Less: amounts billed		(690,704	)		(1,198,099	)
	$	450,906		$	(328,041	)
November 30, 2021
Costs	$	362,958		$	924,908
Estimated earnings		117,328			301,180
		480,286			1,226,088
Less: amounts billed		(303,002	)		(1,506,849	)
	$	177,284		$	(280,761	)

The amounts billed on long-term contracts are due 30 days from invoice date. All amounts billed are expected to be collected within the next 12 months. Retainage included in accounts receivable was $4,087 and $0 as of November 30, 2022 and 2021, respectively.